Selling Guide
... means without Fannie Mae’s prior written permission, except as may be provided herein or unless otherwise permitted by law. Limited permission to reproduce this publication in print in whole or in part and limited permission to distribute electronically parts of this publication are granted to Fanni ...
... means without Fannie Mae’s prior written permission, except as may be provided herein or unless otherwise permitted by law. Limited permission to reproduce this publication in print in whole or in part and limited permission to distribute electronically parts of this publication are granted to Fanni ...
ALEXANDERS INC (Form: 10-K, Received: 02/27/2012 08:36:49)
... 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, fin ...
... 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, fin ...
Word - corporate
... with the applicable rules of the Securities and Exchange Commission (“SEC”) and do not include all of the information and disclosures required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. These interim consolidated financial statements should be read i ...
... with the applicable rules of the Securities and Exchange Commission (“SEC”) and do not include all of the information and disclosures required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. These interim consolidated financial statements should be read i ...
US CORNER - Paul, Weiss
... may have given back some approval rights. Each situation will be unique not only because of the circumstances surrounding the borrower but because of the terms of the intercreditor agreement. These agreements are not standardised and will require careful analysis and review because differences in te ...
... may have given back some approval rights. Each situation will be unique not only because of the circumstances surrounding the borrower but because of the terms of the intercreditor agreement. These agreements are not standardised and will require careful analysis and review because differences in te ...
amended and restated promissory note - corporate
... Revolving Loan request is made telephonically and accepted in such form by Bank, such request shall be confirmed in writing by Borrower within five (5) banking business days of such request on the same forms as are required to be used by Borrower when making the request in writing. If Borrower’s the ...
... Revolving Loan request is made telephonically and accepted in such form by Bank, such request shall be confirmed in writing by Borrower within five (5) banking business days of such request on the same forms as are required to be used by Borrower when making the request in writing. If Borrower’s the ...
WHEDA Advantage Policies and Procedures Manual
... 12.01 Reliance of WHEDA (04/01/14) .................................................................................................. 68 12.02 Survival of Reps and Warrants (04/01/14) ................................................................................. 68 ...
... 12.01 Reliance of WHEDA (04/01/14) .................................................................................................. 68 12.02 Survival of Reps and Warrants (04/01/14) ................................................................................. 68 ...
Estimating the Effects of Foreclosure Counseling for Troubled Borrowers Assistant Professor
... terms include a publically filed lien on the home, which gives the mortgagee rights to use the home to payoff an unpaid balance. Any violation of the contract could result in a default in the contract on behalf of the borrower. Most commonly, a default results after a borrower’s failure to make paym ...
... terms include a publically filed lien on the home, which gives the mortgagee rights to use the home to payoff an unpaid balance. Any violation of the contract could result in a default in the contract on behalf of the borrower. Most commonly, a default results after a borrower’s failure to make paym ...
A Model of Trust Building with Anonymous Re-match
... a given relationship, at each period the lender first decides the size of the loan provided to the borrower; then the borrower decides whether or not to repay; finally the lender and the borrower decide whether or not to continue their relationship. If a relationship is terminated, each party become ...
... a given relationship, at each period the lender first decides the size of the loan provided to the borrower; then the borrower decides whether or not to repay; finally the lender and the borrower decide whether or not to continue their relationship. If a relationship is terminated, each party become ...
Forced Sale Risk: Class, Race, and the “Double Discount”
... properties.16 By mid-February, the city indicated that it would not pay the only landlord to hold out the assessed value for her property and that it would take her property by eminent domain if she did not accept the city’s final offer which was $28,000 below the assessed value.17 To be fair to the ...
... properties.16 By mid-February, the city indicated that it would not pay the only landlord to hold out the assessed value for her property and that it would take her property by eminent domain if she did not accept the city’s final offer which was $28,000 below the assessed value.17 To be fair to the ...
Joint Center for Housing Studies Harvard University
... the value of their homes. Previously, during the housing boom, many of these households had taken out subprime or exotic adjustable-rate mortgages (ARMs)6 with payments that ultimately became unmanageable. Once their home equity evaporated, these “underwater” borrowers found that they could not refi ...
... the value of their homes. Previously, during the housing boom, many of these households had taken out subprime or exotic adjustable-rate mortgages (ARMs)6 with payments that ultimately became unmanageable. Once their home equity evaporated, these “underwater” borrowers found that they could not refi ...
Mortgagee Sales - Financial Ombudsman Service
... a view on an issue, there may well be another which says something different. Why? Because the cases are decided on the facts and taking into account all of the evidence. While there are useful statements of what the duty of mortgagee is, it is always necessary to apply those statements to what happ ...
... a view on an issue, there may well be another which says something different. Why? Because the cases are decided on the facts and taking into account all of the evidence. While there are useful statements of what the duty of mortgagee is, it is always necessary to apply those statements to what happ ...
The Hazard Rates of First and Second Default
... The dynamics of borrower default and the conditions which result in foreclosure are gaining importance as mortgage lenders and services realize that foreclosure avoiding loss mitigation efforts can pay significant dividends.1 Lenders, responding to growing pressure from mortgage insurers and seconda ...
... The dynamics of borrower default and the conditions which result in foreclosure are gaining importance as mortgage lenders and services realize that foreclosure avoiding loss mitigation efforts can pay significant dividends.1 Lenders, responding to growing pressure from mortgage insurers and seconda ...
What can a lender learn from a loan application?
... A lender will generally be concerned to ensure that its borrowers have the ability to repay their loans. Even if the loan is secured, good banking practice has traditionally required that ‘any security should be regarded as a last line of defence to fall back upon in exceptional circumstances only’. ...
... A lender will generally be concerned to ensure that its borrowers have the ability to repay their loans. Even if the loan is secured, good banking practice has traditionally required that ‘any security should be regarded as a last line of defence to fall back upon in exceptional circumstances only’. ...
CONSIDERATION DOCTRINE AND REGULATORY ARBITRAGE IN
... entitling the transferor to a subset of the cash generated by what it was transferring. Because the Uniform Commercial Code defines “value” expansively, to include any “consideration sufficient to support a simple contract,” the U.C.C. apparently directs us to determine whether $10 would support a ...
... entitling the transferor to a subset of the cash generated by what it was transferring. Because the Uniform Commercial Code defines “value” expansively, to include any “consideration sufficient to support a simple contract,” the U.C.C. apparently directs us to determine whether $10 would support a ...
203k select - Primary Residential Mortgage
... All transactions in which a property is purchased and resold quickly for a significant profit must be scrutinized closely for misrepresentation – which usually includes property value, property information, down payment, hidden transaction terms or borrower qualifications. Chain of title history mu ...
... All transactions in which a property is purchased and resold quickly for a significant profit must be scrutinized closely for misrepresentation – which usually includes property value, property information, down payment, hidden transaction terms or borrower qualifications. Chain of title history mu ...
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... A surge in delinquency among risky subprime home mortgages has produced calls for front-end regulatory fixes as well as emergency foreclosure avoidance interventions. Whatever the merit of those interventions, this Essay calls for home mortgage delinquency management to be conceptualized as an endur ...
... A surge in delinquency among risky subprime home mortgages has produced calls for front-end regulatory fixes as well as emergency foreclosure avoidance interventions. Whatever the merit of those interventions, this Essay calls for home mortgage delinquency management to be conceptualized as an endur ...
Loan Agreement - Act respecting financial assistance for education
... totime, the repay in advance all or partatofhis theorloan. borrower, her last known address. This agreement will be deemed accepted by the borrower if he or she does not request that the lender modify the terms and conditions of the agreement within 15 days of the date on which it was sent. This rul ...
... totime, the repay in advance all or partatofhis theorloan. borrower, her last known address. This agreement will be deemed accepted by the borrower if he or she does not request that the lender modify the terms and conditions of the agreement within 15 days of the date on which it was sent. This rul ...
Joint Dynamics of House Prices and Foreclosures
... from defaulting, because a seller has to pay back the outstanding mortgage balance to the lender whereas a defaulter has no obligation. Therefore, default occurs in equilibrium as long as the selling price is lower than the outstanding mortgage debt. Upon default, the household becomes a renter agai ...
... from defaulting, because a seller has to pay back the outstanding mortgage balance to the lender whereas a defaulter has no obligation. Therefore, default occurs in equilibrium as long as the selling price is lower than the outstanding mortgage debt. Upon default, the household becomes a renter agai ...
The Impact of Consumer Credit Counseling on Distressed Mortgage
... Most competitors in the “distressed servicing” space of the mortgage industry either sub‐ service distressed loans serviced by other lenders or service loans owned by investors that have acquired portfolios of distressed loans, e.g., equity funds, hedge funds, etc. Typically, such co ...
... Most competitors in the “distressed servicing” space of the mortgage industry either sub‐ service distressed loans serviced by other lenders or service loans owned by investors that have acquired portfolios of distressed loans, e.g., equity funds, hedge funds, etc. Typically, such co ...
SELLER-CARRIED TRUST DEEDS AND LAND SALE CONTRACTS
... issuance of a written notice to the buyer. Note, however, that even when a seller agrees to this, he or she may reserve the right to eliminate the written notice if the buyer goes into default more than once in any one 12-month period. ...
... issuance of a written notice to the buyer. Note, however, that even when a seller agrees to this, he or she may reserve the right to eliminate the written notice if the buyer goes into default more than once in any one 12-month period. ...
CASE LAW
... "The main argument urged against it is founded upon the maxim, that 'a person cannot grant a thing which he has not:' ille non habet, non dat; and many authorities are referred to at law to prove the proposition, and many more might have been added from cases in equity, for equity no more than law c ...
... "The main argument urged against it is founded upon the maxim, that 'a person cannot grant a thing which he has not:' ille non habet, non dat; and many authorities are referred to at law to prove the proposition, and many more might have been added from cases in equity, for equity no more than law c ...
Fannie Mae/Freddie Mac Home Mortgage Documents Interpreted as
... attorneys specializing in foreclosures statewide). 22. FHA employs deficiency power against borrowers who commit fraud or display excess assets. The Assistant General Counsel for the Single Family Mortgage Division of FHA observed that if someone walked away from an FHA insured house after winning t ...
... attorneys specializing in foreclosures statewide). 22. FHA employs deficiency power against borrowers who commit fraud or display excess assets. The Assistant General Counsel for the Single Family Mortgage Division of FHA observed that if someone walked away from an FHA insured house after winning t ...
in the circuit court of cook county, illinois
... is in no way dependent upon the breach-of-contract claim, because Reyes Group’s complaint seeks relief under both the Mechanics Lien Act and for breach-of-contract, and has pleaded distinct causes of action under each. See Culver v. Elwell, 73 Ill. 536, 541 (1874) (subcontractor’s remedies are cumul ...
... is in no way dependent upon the breach-of-contract claim, because Reyes Group’s complaint seeks relief under both the Mechanics Lien Act and for breach-of-contract, and has pleaded distinct causes of action under each. See Culver v. Elwell, 73 Ill. 536, 541 (1874) (subcontractor’s remedies are cumul ...
Foreclosures, House Prices, and the Real Economy
... economy. However, isolating the causal effect of foreclosures is difficult because of omitted variables and reverse causality. The latter effect is especially important: homeowner, will only allow a foreclosure to occur if they are underwater on their mortgage. As a result, house price declines will ...
... economy. However, isolating the causal effect of foreclosures is difficult because of omitted variables and reverse causality. The latter effect is especially important: homeowner, will only allow a foreclosure to occur if they are underwater on their mortgage. As a result, house price declines will ...
Patrick Bayer, Duke University and NBER
... purchased their homes between 2004 and 2007 – i.e., those drawn into the market at the peak of the credit expansion. Taken together, our results provide strong evidence that minority households drawn into homeownership late in the recent housing market boom were especially vulnerable in the subsequ ...
... purchased their homes between 2004 and 2007 – i.e., those drawn into the market at the peak of the credit expansion. Taken together, our results provide strong evidence that minority households drawn into homeownership late in the recent housing market boom were especially vulnerable in the subsequ ...
Foreclosure
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower (mortgagor)'s equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure).Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, it is a cloud on title and the lender cannot be sure that they can successfully repossess the property. Therefore, through the process of foreclosure, the lender seeks to foreclose (in plain English, immediately terminate) the equitable right of redemption and take both legal and equitable title to the property in fee simple. Other lien holders can also foreclose the owner's right of redemption for other debts, such as for overdue taxes, unpaid contractors' bills or overdue homeowners' association dues or assessments.The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property after the owner has failed to comply with an agreement between the lender and borrower called a ""mortgage"" or ""deed of trust."" Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that ""the lender has foreclosed its mortgage or lien."" If the promissory note was made with a recourse clause then if the sale does not bring enough to pay the existing balance of principal and fees the mortgagee can file a claim for a deficiency judgment. In many states in the United States, items included to calculate the amount of a deficiency judgment include the loan principal, accrued interest and attorney fees less the amount the lender bid at the foreclosure sale.